International Business Machines Co. (NYSE:IBM) Stake Cut by Beacon Harbor Wealth Advisors Inc.

Beacon Harbor Wealth Advisors Inc. decreased its holdings in shares of International Business Machines Co. (NYSE:IBM) by 0.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,805 shares of the technology company’s stock after selling 164 shares during the period. International Business Machines comprises about 2.1% of Beacon Harbor Wealth Advisors Inc.’s portfolio, making the stock its 11th largest holding. Beacon Harbor Wealth Advisors Inc.’s holdings in International Business Machines were worth $8,800,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. raised its stake in International Business Machines by 37.8% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 54,411 shares of the technology company’s stock worth $10,390,000 after acquiring an additional 14,929 shares during the period. Hilltop National Bank bought a new position in shares of International Business Machines during the first quarter valued at approximately $560,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of International Business Machines by 22.2% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,199 shares of the technology company’s stock worth $1,184,000 after purchasing an additional 1,127 shares during the period. PFG Advisors lifted its holdings in shares of International Business Machines by 8.1% in the 1st quarter. PFG Advisors now owns 5,629 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 422 shares during the last quarter. Finally, Nelson Capital Management LLC acquired a new position in International Business Machines during the 1st quarter valued at approximately $266,000. 58.96% of the stock is owned by institutional investors and hedge funds.

International Business Machines Stock Performance

International Business Machines stock opened at $213.76 on Friday. International Business Machines Co. has a fifty-two week low of $145.28 and a fifty-two week high of $237.37. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The company has a market cap of $197.65 billion, a P/E ratio of 31.11, a price-to-earnings-growth ratio of 4.64 and a beta of 0.71. The firm’s 50 day simple moving average is $217.49 and its 200-day simple moving average is $191.86.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the firm earned $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts predict that International Business Machines Co. will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be issued a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio is currently 97.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IBM shares. StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research note on Thursday, October 24th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Finally, Bernstein Bank raised their price objective on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $208.12.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.